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LiveinHope

Who Should Be His Man Friday ?

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Light Sunday listening

Kirsty Young and Mervyn King

Interview here

People have "every right to be angry" with banks for the UK's financial crisis, The outgoing Bank of England (BoE) governor Sir Mervyn King says.

BUT

"It's very important we don't demonise the individuals but we do keep cracking on with changing the system."

Hubris

My Pension, My Lifestyle

but more importantly

and as the music track Seems to be a thread already

1) What Book would you recommend

2) What luxury item would you recommend

and

3) who should he find is his only companion for eternity

Edited by LiveinHope

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Sir Mervyn said there were signs economic recovery was under way.

All his own work.

From the bbc article/interview as reported it seems pretty clear that the delusion/contradiction index is rather high.

Edited by billybong

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I have to agree with Mervyn King.

I think the credit crunch would have happen anyway even if the banks hadn't lent so much but it would have happened later rather than sooner.

It's the system that did it.

The accumulation of wealth in the hand of the few creates unpayable debt in the hands of the many.

Positive yields will eventually act like grains of rice on a chess board type outcome.

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It is the weakest borrowers that save us all from an even worse fate.

So what you are saying is as people go bankrupt the debt is written off?

That would work if the rich took a hair cut or the defaulted debt was replace by QE. Otherwise the banks will eventually go bankrupt.

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Paraphrasing Mervyn King:

People have "every right to be angry" with criminals for the UK's crime problem.

It's very important we don't demonise the individual criminals but we do keep cracking on with changing the system.

:rolleyes:

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Is Mervyn angling for a nice little earner in the financial sector? It might explain his conversion to the cause of blame free banking.

You think he hasn't got his next job in a bank lined up already? Of course this would in no way compromise his independence as a regulator of banks.

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Light Sunday listening

Kirsty Young and Mervyn King

Interview here

BUT

Hubris

My Pension, My Lifestyle

but more importantly

and as the music track Seems to be a thread already

1) What Book would you recommend

2) What luxury item would you recommend

and

3) who should he find is his only companion for eternity

Lovely little cartoon in today's Times - MK sitting on his mini island furiously at it with a laptop-lookalike bearing a large £ sign and the label PRINTING OUTFIT.

Underneath it says 'Luxury item'.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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